HOUSTON – Halliburton (NYSE: HAL) today announced an agreement with GroundMetrics, a San Diego company specializing in the development of electromagnetic sensor systems, to deliver full field reservoir characterization and monitoring services.
The service provides detailed reservoir data to increase subsurface insight.
The collaboration combines GroundMetrics' capabilities in electromagnetic and resistivity sensing, which helps determine the types of fluids present in reservoir rocks, and the expertise of Halliburton in logging, petrophysics and earth modeling. Leveraging the capabilities and expertise of both companies will enable the generation of 3D saturation models that integrate with other reservoir diagnostics and management workflows to help reduce subsurface uncertainties, assisting operators in making better production-related decisions.
These advanced capabilities are especially beneficial in mature fields and unconventional reservoirs where data obtained from across the field helps operators monitor fluid flow, perform optimization of horizontal drill paths and assess hydrocarbon pay zones with greater accuracy. The technology also plays an important role in IOR and EOR operations assisting with better identification of injection patterns in water, steam, chemical and CO2 floods.
"Collaborating with GroundMetrics accelerates and deepens our ability to provide operators with greater subsurface insight of their reservoirs," said David Topping, vice president of the Halliburton Wireline and Perforating product service line. "The technologies and expertise we’re bringing together can play a significant role in helping our customers reduce exploration and development costs and increase oil production."
"Deploying unique technology is the best way to differentiate in a competitive industry," said George Eiskamp, CEO of GroundMetrics. "By combining Halliburton’s global operations and our leading sensor system technologies and proprietary data science solutions, we are well positioned to help upstream operators optimize their reservoir’s value."
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 50,000 employees representing 140 nationalities, and operations in approximately 70 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction, completion and production optimization. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn and YouTube.
GroundMetrics, Inc. is a world leader in the development of electromagnetic sensor systems and data analytics tools. The company takes a pragmatic approach to rapid innovation and its proprietary technologies provide unique insights about the subsurface. GroundMetrics offers full-field survey and monitoring services as well as partnership opportunities to oil and gas, geophysical service, and mineral exploration companies. Connect at www.groundmetrics.com or on Facebook, Twitter, and LinkedIn.